Europe Slips The Inevitable Disc

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http://www.bbc.co.uk/news/world-europe-33437797

Greece debt crisis: Eurozone sets out new deadline

The eurozone gives Greece until Thursday to present new proposals to secure a deal with creditors, and has called a full EU summit for Sunday.
The moves came after an emergency eurozone leaders' summit in Brussels.

The eurozone had asked Greece to submit fresh plans after its voters rejected a draft bailout in a referendum.
But Greece brought no written plans, suggesting instead a few changes to an earlier draft, which would respect "the mandate of the referendum".
On Sunday a meeting of all 28 members of the European Union will be held.

German Chancellor Angela Merkel said the eurozone leaders had a "serious, candid discussion" in Brussels that "reflected the seriousness of the situation at hand".

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